Albany, NY -- (SBWIRE) -- 06/13/2016 -- The global bioenergy market is explained in great detail in the latest research report published by Transparency Market Research, a top provider of market-related data and forecast guidance. The report is titled "Bioenergy Market - Global Industry Analysis, Size, Share, Growth Trends and Forecast 2016 - 2024." The report's analysts study all factors responsible for the rate at which this market is currently developing at.

Bioenergy has always been an integral part of the renewable energy industry since its conceptual inception. Bioenergy is so far the only form of energy that can be fully utilized in the three major energy sectors: Transportation, heat, and electricity.

According to this report, the global bioenergy market is currently being driven by the growing concerns over climate change and growing pollution levels associated with the consumption of fossil fuels. The proliferation of the global bioenergy market is also beneficial toward improving waste management and treatment, as well as energy security.

There is also a rapidly changing perspective on the use of bioenergy, especially in rural regions and developing economies. A better use of bioenergy can be made in the rural areas across the world, which will additionally improve the employment rates in these areas. It will also simultaneously create a larger set of opportunities in the agricultural sector.

However, the global bioenergy market is still facing the major problem of high initial costs. The expensive procurement and installation of bioenergy facilities is preventing the faster growth rate of the market, especially in the rural areas. Those in the market who cannot take up the entire initial costs are thus looking for investors, which is what could create the right set of advantages for investors from both government and private agencies.

The report divides the global bioenergy market according to product types, into biogas, biodiesel, and bioethanol. Of these, bioethanol, which is a mixture of waste biomass and gasoline, is expected to show a sharp rise in demand due to a high demand for it in the transportation sector.

In terms of application types, the global bioenergy market is segmented into transportation, off-grid electricity supply, cooking, and others. Of these, the report's analysts believe that the transportation sector will show the highest promise of growth in the coming years.

The global bioenergy market is expected to see major opportunities of development Europe, as the report's regional analysis shows it to be the fastest-growing region for the given forecast period. This region is especially benefitting from the major drive shown by Germany and France, which collectively held a share of 56% in the Europe bioenergy market for 2015. North America and Asia Pacific are also expected to show rapid growth rates in this market. Their growth rates are owed to strengthening government regulations against carbon emissions and the rapid development of industries in nations such as India and China.

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